The E-Mini S&P 500 is little changed and trades rotational in yesterday's double distribution price structure with sellers around the VWAP close level while the volume profile closed with the b-shaped profile which can have bullish tendencies in this session.
Traders simply leaning on the extreme of this particular balanced price range and the lows might be targeted for absorption purposes to cover short positions or to add to short-term buying positions.
Additionally, we can identify the Quarterly developing DVAH (1st Standard Deviation level of the VWAP) as a possible support level. Volatility is quite low which tends to be bearish. Please consider the marked areas as la evel of interest and not actual trading spots.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.